Indian international cricketer Mahendra Singh Dhoni has reportedly invested in Bengaluru-based business ledger startup Khatabook. The former captain of the Indian cricket team along with taking equity will also become the brand ambassador for the company.
At present, the company has over 20 million registered merchants on its app. And with this latest investment and strategic partnership with Dhoni, the company aims to onboard another 20 million users within the next 12 months, improve technology, expand product inventory and expand its footprint across smaller towns and villages.
Commenting on the investment round, Ravish Naresh, co-founder & CEO of Khatabook in a statement said,
“We are thrilled to welcome Mahi to the Khatabook family. This partnership seemed like the most natural fit, and we look forward to setting new milestones together as we build financial solutions for a billion Indians.”
MS Dhoni backing the idea of Khatabook and its potential in bringing the change in the lives of small business owners and merchants said,
“Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances. Khatabook has had an impact on the lives of India’s small merchants and retailers.”
Ved Prakash, VP Marketing at Khatabook shared their focus on in alignment to the latest investment,
“The plan is to drive trust and reliability at a large scale. We will now focus on deepening our relationship with the merchants by creating more use cases and cementing relatability with the brand,”
Khatabook – in numbers
The company has over 20 million users in over 5000 cities across India, Pakistan and Nepal which include small businesses and merchants including kirana shops, mobile recharge points, garment dealers, and jewellers. The mobile app is available in 11 languages. The company has recorded cash transactions worth INR 3.7 lakh crore in the last one year.